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Sep 5, 2012
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business uncertainty over taxes, spending, deficits and political deadlock. what did we do four years ago and what's going to be done to stop this decline? we have cnbc contributor jared bernstein, and we welcome allison fraser, heritage foundation director of economic policy. i really can't stand that we are slipping in this rating. i want america first. what's gone wrong here? >> this is no surprise. as you said it's the fourth year we have slipped. we are in seventh place. the heritage index of economic freedom has shown the same thing. one of the major reasons is we have a deaf sut and debt crisis that washington is simply not dealing with. one of the major issues that is confronting washington and really the larger economy today. major part of the fiscal cliff. >> they say it's no longer reliable. that just gets the hair on the back of my head up. my blood boiling. this has to change. >> i couldn't agree more. let me make different points though. first of all, this may surprise you and allison. every single one of the countries above us on the list with
business uncertainty over taxes, spending, deficits and political deadlock. what did we do four years ago and what's going to be done to stop this decline? we have cnbc contributor jared bernstein, and we welcome allison fraser, heritage foundation director of economic policy. i really can't stand that we are slipping in this rating. i want america first. what's gone wrong here? >> this is no surprise. as you said it's the fourth year we have slipped. we are in seventh place. the heritage...
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Feb 1, 2012
02/12
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so it wouldn't add a dime to the deficit. we would set up a completely separate fund to wall off existing insurance that fha has. and we would also put in place a set of steps that would make sure that we don't have the risk iest loans, the most deeply underwater, coming onto fha. but remember, these are all folks that through the crisis have been paying, and we're lowering their payments on average $3,000 a year. we think these folks are going to be even more likely to pay, and it makes sense given the boost to the economy and the housing market overall that we should move forward with this plan. >> let me get your take on really what's behind this stalemate. why do you think we're still in it, this housing crisis? and prices are still coming down? what is the biggest sticking point? >> well, maria, remember, what we faced, even before the president set foot in the oval office, was 30 straight months of housing price declines. the biggest crisis in the housing market we've seen since the depression. >> right. so how can that
so it wouldn't add a dime to the deficit. we would set up a completely separate fund to wall off existing insurance that fha has. and we would also put in place a set of steps that would make sure that we don't have the risk iest loans, the most deeply underwater, coming onto fha. but remember, these are all folks that through the crisis have been paying, and we're lowering their payments on average $3,000 a year. we think these folks are going to be even more likely to pay, and it makes sense...
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Jan 31, 2012
01/12
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which is slam down on spending and deficits and debt. it didn't happen. it hasn't happened yet in this campaign. >> i don't agree with you that it's not happening anymore than it didn't happen in 2010. you know, we have people talking about spending in 2010. we did not elect people in congress committed to the kind of detailed program on entitlement reform you're talking about. we had people elected, committed to doing something about spending. and we're going to have a president elected committed to doing something about spending and it's going to be detailed well before the election. you just want it all resolved before the primary. >> i just want to see an agenda. you've got to run an agenda. here's another one. the big difference between newt gingrich and mitt romney about money, about the dollar. newt is talking about a gold-backed dollar. mitt disagrees. do you think that these satisfactorily resolve those issues. do you think voters heard those issues resolved? there are big gaps between those. >> newt has adopted the tea party, ron paul, sort of -
which is slam down on spending and deficits and debt. it didn't happen. it hasn't happened yet in this campaign. >> i don't agree with you that it's not happening anymore than it didn't happen in 2010. you know, we have people talking about spending in 2010. we did not elect people in congress committed to the kind of detailed program on entitlement reform you're talking about. we had people elected, committed to doing something about spending. and we're going to have a president elected...
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Jan 30, 2012
01/12
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year, we need to start making some very, very clear and concise progress towards getting rid of the deficits and debt. near-term, government spending still likely to be a drag on groit at the federal level and state and local level. >> david, you first, where do you commit cash at this point? and how much cash would you keep in a typical portfolio? >> so we're always fully invested with our clients. we tell our clients if they need cash, they need to let us know and put some money aside. we tend to be fully invested to us means less than 5% in cash. we're very intrigued right now with high-quality domestic companies, companys that have lots of cash on their balance sheet that are diversified in their revenue streams that have sources coming from domestic and international exposure. we also like a lot of -- we were looking at a lot of inflation-protected investments today. so we're focused on bank loans, mass limited partnerships each of which have yield orientation to them and also inflation protection as well. >> john wrrks are you putting cash to work right now? >> picking up on that theme
year, we need to start making some very, very clear and concise progress towards getting rid of the deficits and debt. near-term, government spending still likely to be a drag on groit at the federal level and state and local level. >> david, you first, where do you commit cash at this point? and how much cash would you keep in a typical portfolio? >> so we're always fully invested with our clients. we tell our clients if they need cash, they need to let us know and put some money...
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Apr 9, 2012
04/12
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it looks to me if we're going to carp about deficits and deficit spending and debt, the president -- >> david, so good to see you. doug and david, great talking to you. >> doug doesn't know what to do. >> i'm sure he's got an answer for that. >> we're going to have both of these gentlemen back. >> on net he's going to lose employment over his first four years unless he gets another 750,000 jobs. it's hard to read that as a success. there is no president that's run up more debt. >> sooner or later at some time it becomes not bush. >> the president should do what david said, ask yourself if you're better off than you were four years ago. thanks, guys. >> coming up, lawrence lindsey joins us at guest home tomorrow starting at 7:00 a.m. more of a republican love fest for andrew tomorrow. >> it's crazy. absolute crazy. >> why? >> you're blaming the president. it's like you burn the guy's house down and then you give him the job and say it's his fault. >> four years he gets it back to 8.2. [ male announcer ] this is lawn ranger -- eden prairie, minnesota. in here, the landscaping business
it looks to me if we're going to carp about deficits and deficit spending and debt, the president -- >> david, so good to see you. doug and david, great talking to you. >> doug doesn't know what to do. >> i'm sure he's got an answer for that. >> we're going to have both of these gentlemen back. >> on net he's going to lose employment over his first four years unless he gets another 750,000 jobs. it's hard to read that as a success. there is no president that's run...
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Dec 26, 2012
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i have a slightly deficit take. i certainly agree, banks have been on fire 40% versus s&p up the last six months. they've been terrific stocks recently. a lot of optimism gets put into these names and i see a lot of headwinds to tensipotentia pote it. >> being? >> regulatory pressure high. and keeping interest margins under pressure. loan demand is still pretty weak. cni, commercial and industrial loan demand is starting to weaken. you have political pressure and uncertainty, which remains high. there's a lot of problems here. one in particular, in regulation, i think is underappreciated here. you referenced it in your spot. the coming central clearing of derivatives mark, i think is a big problem. >> when i say basel-free, people's eyes glaze over, where are you regarding basel-free and what it means to profits? >> a fair question and huge unknown. we're starting to see some firms begin to reshape their business, particularly on the market side, where a lot of pressure is. there's a busy called fix income and commo
i have a slightly deficit take. i certainly agree, banks have been on fire 40% versus s&p up the last six months. they've been terrific stocks recently. a lot of optimism gets put into these names and i see a lot of headwinds to tensipotentia pote it. >> being? >> regulatory pressure high. and keeping interest margins under pressure. loan demand is still pretty weak. cni, commercial and industrial loan demand is starting to weaken. you have political pressure and uncertainty,...
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Aug 6, 2012
08/12
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but gentlemen, we are running huge deficits, big debt. is this money well spent? should we be spending this kind of cash on mars? >> there are very few times to celebrate a collective achievement like the mars rover and the moon landing funded in a tough time in the '70s. this is the time for government to take risks and celebrate the success. >> john, i think you disagree. >> i don't buy it. it's a tremendous waste of money. over the years invested billions and billions in the space program. the returns from the space return are very, very little. to me, this is captured by a small group of scientists and well-connected companies, defense contractors mostly -- >> oh, you're gong to hear about this, john. you're going to hear about this. >> i used to be a big that that supporter as a kid. growing up means giving up the dreams. we shouldn't be doing wit the people's tax money. >> all right. new numbers show that team romney has raised more money than team obama in the latest month, $101.3 million versus $75 million. is all of this money in politics a good thing, a
but gentlemen, we are running huge deficits, big debt. is this money well spent? should we be spending this kind of cash on mars? >> there are very few times to celebrate a collective achievement like the mars rover and the moon landing funded in a tough time in the '70s. this is the time for government to take risks and celebrate the success. >> john, i think you disagree. >> i don't buy it. it's a tremendous waste of money. over the years invested billions and billions in...
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Apr 10, 2012
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our deficit is too high. it might have a shred of credibility to it if you didn't find out they wanted to spend $4.6 trillion on lower tax rates. i don't know how many of you are math majors, business majors, you can't pay down a deficit by taking in $4.6 trillion of less money. especially when you're denying that you're going to be making all of these cuts. it doesn't added a up. it doesn't make sense. and keep in mind, more than a trillion dollars of the tax cuts that they proposes going to people who make more than $250,000 a year. that is an average of at least $150,000 -- again, we're taking an average with the numbers that they gave us. that average is to at least $150,000 for every millionaire, billionaire in the country. each millionaire and billionaire on average would get $150,000. some folks would get a lot more. so we did some math of our own. we added up all of the investments $150,000 could pay for. let's say a tax break that i might get that i really don't need. you know, i've got -- treated pr
our deficit is too high. it might have a shred of credibility to it if you didn't find out they wanted to spend $4.6 trillion on lower tax rates. i don't know how many of you are math majors, business majors, you can't pay down a deficit by taking in $4.6 trillion of less money. especially when you're denying that you're going to be making all of these cuts. it doesn't added a up. it doesn't make sense. and keep in mind, more than a trillion dollars of the tax cuts that they proposes going to...
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Sep 4, 2012
09/12
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we've had a huge deficit caused by unpaid bills. when bush went out and gave all those tax cuts, if he wanted to do the right thing, he would have cut programs. but they didn't have the nerve to do that. we've had enough of that kind of stuff. we can get out of these deficits, but it certainly isn't going to be under the leadership of the republicans. the last president to balance the budget before bill clinton sf lyndon johnson. only drats have bool lanced the budget in the last 40 years. republicans borrow and spend. that's what they have done. that's what's at stake in this election. >> our standard is not europe. it's disappointing to a lot of americans when you hear them say we're not quite as bad of shape as europe. our standards, what we used to know how to do in this country. bill clinton knew how to create jobs and ronald reagan knew how to create jobs. we were at the point in the reagan presidency where because of his his policies of returning dollars to the american people and unleashing our businesses, we were at the poi
we've had a huge deficit caused by unpaid bills. when bush went out and gave all those tax cuts, if he wanted to do the right thing, he would have cut programs. but they didn't have the nerve to do that. we've had enough of that kind of stuff. we can get out of these deficits, but it certainly isn't going to be under the leadership of the republicans. the last president to balance the budget before bill clinton sf lyndon johnson. only drats have bool lanced the budget in the last 40 years....
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Apr 18, 2012
04/12
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and when you have gigantic deficits like, this trillion deficits, what do you think about as a businessman? my taxes are going up. so they don't want to hire. and mr. obama has not been friendly to business. >> i agree with that. >> am i being unfair? businesses react to this stuff, don't they? >> i definitely think that as i look to the future, i see trade policy hasn't been conducive to business growth. tax policy surely has not been conducive to business growth. regulatory policy has not been conducive to business growth. and the fact that we have this enormous growth in government and a very serious budget crisis coming in the future is also not conducive to business growth. so i would say all of those things are consistent with your views. it's certainly the view that i've had. i think we have not gone down the right path. we shouldn't have focused on the short run. we should have focused on these long-term positive factors that affect long-term economic growth. that's what we know. >> maybe investors in the stock market are telling us there is going to be some policy changes coming.
and when you have gigantic deficits like, this trillion deficits, what do you think about as a businessman? my taxes are going up. so they don't want to hire. and mr. obama has not been friendly to business. >> i agree with that. >> am i being unfair? businesses react to this stuff, don't they? >> i definitely think that as i look to the future, i see trade policy hasn't been conducive to business growth. tax policy surely has not been conducive to business growth. regulatory...
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Nov 7, 2012
11/12
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we have got trillions of dollars in deficits down the road. how do we solve those deficits? the federal government, guys, need i remind you, spends 40 million dollars every hour. how do we fix that? >> these are the questions that we're asking. is the next four years going to be more of a sag nant economy? >> the affordable care act lives on. i know a lot of people around here aren't maybe so happy about that. and perhaps reduces it a lot. >> what did we see in the california vote? americans are dying for higher taxes. >> it is the way america is headed. >> how does the affordable care act cut the deficit? i don't understand. >> it's very simple. there is absolutely no path to a sustainable budget deficit that doesn't reduce the growth of health care cost. no one who knows the fiscal accounts will disagree with that point. and the affordable care act is scored as doing just that. there are early signs. if it doesn't we have to go wac. >> believe that. >> you have got morning money to put together for tomorrow morning. what's your lead? does the inverse happen instead? >> no,
we have got trillions of dollars in deficits down the road. how do we solve those deficits? the federal government, guys, need i remind you, spends 40 million dollars every hour. how do we fix that? >> these are the questions that we're asking. is the next four years going to be more of a sag nant economy? >> the affordable care act lives on. i know a lot of people around here aren't maybe so happy about that. and perhaps reduces it a lot. >> what did we see in the california...
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Sep 18, 2012
09/12
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the deficit is $1.2 trillion. we are going to talk about championing small business and economic growth and governor romney will be talking about the need to cut taxes. corporate tax rate as well as individual tax rates because small business owners as you know tend to pay the individual tax rate. >> so we will hear new talk about the 20% income tax reduction as you say affects small business. eddy, i haven't heard it for so long that i have forgotten it is in the campaign documents. >> they are talking more about the specifics under lined each of the five parts of the plan for a stock erstronger middle c one of those is championing small business. so you will hear more about it next week. >> we'll leave it there. ed gillespie, thank you ed. i appreciate it very much. >> thank you for having me on. >> all right. coming up, it is all about entitlement state versus opportunity state. our power house is going to dissect my plan. don't forget. free market capitalism is the best way to prosperity. listen as we go out.
the deficit is $1.2 trillion. we are going to talk about championing small business and economic growth and governor romney will be talking about the need to cut taxes. corporate tax rate as well as individual tax rates because small business owners as you know tend to pay the individual tax rate. >> so we will hear new talk about the 20% income tax reduction as you say affects small business. eddy, i haven't heard it for so long that i have forgotten it is in the campaign documents....
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Sep 7, 2012
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this deficit spending has never worked. those multipliers have never worked. >> well, i think one of the reasons you're not seeing a lot of capital goods orders is because there's not a lot of demand. so why would you want to build anything more? i think really the problem is is that this is a massive credit boom we've seen and bust and that's very different from your usual economic cycle that people are used to. >> thanks so both of you. let's bring our political panel in. greg, tony fratto, jared bernstein. tony fratto, pardon my french, but i heard a lot of demagoguery from joe biden. 30 million seniors will be thrown off medicare because of romney and ryan? what in god's name is biden talking about? >> i was watching the speech and taking some notes. he was creating some full time jobs tonight for the fact checkers are going to have to go through this speech. the 800,000 jobs that some experts on the territorial tax system, major trading partners that doesn't use a territorial tax system, but that's going to cost us 800
this deficit spending has never worked. those multipliers have never worked. >> well, i think one of the reasons you're not seeing a lot of capital goods orders is because there's not a lot of demand. so why would you want to build anything more? i think really the problem is is that this is a massive credit boom we've seen and bust and that's very different from your usual economic cycle that people are used to. >> thanks so both of you. let's bring our political panel in. greg,...
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Nov 29, 2012
11/12
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he said that's going to put a drag on the economy but we have to do something about the deficit. i don't really understand reasonings. i think he needs to go back to economic then i would argue the deficit gets worse because the revenues don't come in because the unemployment rate goes up. >> you're absolutely right. france instituted a 75% marginal tax great early last night grease going we've got to make sure we're getting gross right if we want to face the deficit. you go pro row tax reform you broaden out debate like an 82-year-o 82-year-old. >> you think, however, reading from your notes and looking at the stock market, particularly retail stocks, you believe that taxes are going up. you believe that's the stock market message, it meal why then. the blebs saying it when you look at the retailing names, the market tells you they think all the middle class market will get extended. you see order? core it's not just this consumption that's going to you're going to gets will live dent, small cap stocks are underperforming. we're going to have a hard cap gains tax, a high are def
he said that's going to put a drag on the economy but we have to do something about the deficit. i don't really understand reasonings. i think he needs to go back to economic then i would argue the deficit gets worse because the revenues don't come in because the unemployment rate goes up. >> you're absolutely right. france instituted a 75% marginal tax great early last night grease going we've got to make sure we're getting gross right if we want to face the deficit. you go pro row tax...
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Apr 13, 2012
04/12
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>> all political. >> if you cared about the deficit, if you cared about deficit, matt lewis, then you'd know that this goofy millionaire's tax raises less than $50 billion over ten years. okay? given what, $45 trillion in spending and 7, 8 trillion dollars in deficits. so it's not about deficit reduction. it's really about taxing rich people. but isn't it really about taxing mitt romney? isn't that what the whole buffett plan is about? >> well, it's really about politics. >> really? >> yes. i hate to blow their cover. >> it's romney's money. it's mitt romney's wealth and demonizing mitt romney's wealth. >> and his success. because mitt romney is the presumed republican nominee. so all of a sudden -- by the way, we could be talking about the unemployment rate that's still above 8%. >> you want to keep talking about mitt romney's money. they want to make this election about mitt romney's money. >> no. the problem is romney is using this strategy where he's trying to take everything that obama says and throw it against him. so he's saying now that obama is out of touch. so all that joe bid
>> all political. >> if you cared about the deficit, if you cared about deficit, matt lewis, then you'd know that this goofy millionaire's tax raises less than $50 billion over ten years. okay? given what, $45 trillion in spending and 7, 8 trillion dollars in deficits. so it's not about deficit reduction. it's really about taxing rich people. but isn't it really about taxing mitt romney? isn't that what the whole buffett plan is about? >> well, it's really about politics....
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Nov 7, 2012
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i think he wants to get serious about the deficit. hopefully we can make a deal with the republicans. if not, the fiscal cliff is the best of a bunch of bad alternatives. >> i've heard of daredevils but never that daredevil going over the fiscal cliff. that's a thelma and louise solution to our solution, governor. >> it's not a real cliff. >> we'll continue the discussion and impact on the fed, supreme court, entitlements and a lot more when your coverage of "your money your vote" continues in just a moment. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. try this... bayer? this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your
i think he wants to get serious about the deficit. hopefully we can make a deal with the republicans. if not, the fiscal cliff is the best of a bunch of bad alternatives. >> i've heard of daredevils but never that daredevil going over the fiscal cliff. that's a thelma and louise solution to our solution, governor. >> it's not a real cliff. >> we'll continue the discussion and impact on the fed, supreme court, entitlements and a lot more when your coverage of "your money...
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Aug 20, 2012
08/12
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the ryan budget doesn't stop deficit spending. it's a deficit budget. i agree with ron paul and governor johnson. either you cut spending by 1.4 trillion and balance the budget or we are headed for monetary collapse. >> before i let doug back in, ryan has a good tax reform plan. it would go to 10 and 25%. that's pro growth. he also has a corporate tax rate of 25% from pa%. now that's all very pro growth. that's kemp. that's laffer, kudlow, supply side. don't you think that gives him bonifieds? >> it's one element of it. he spans the washington, d.c. republican globe. he's more interested in the deficit bomb in the spending issue overall. he's not a libertarian. as far as his foreign policy views, afghanistan, iraq, the patriot act. the national defense authorization act which, as you know, for the first time an american citizen can be held without charges, without bail. this is america? now he blasts the president for lifting the debt ceiling but paul ryan has voted consistently for it. >> is mr. ryan really a root canal guy or a growth guy? what's your
the ryan budget doesn't stop deficit spending. it's a deficit budget. i agree with ron paul and governor johnson. either you cut spending by 1.4 trillion and balance the budget or we are headed for monetary collapse. >> before i let doug back in, ryan has a good tax reform plan. it would go to 10 and 25%. that's pro growth. he also has a corporate tax rate of 25% from pa%. now that's all very pro growth. that's kemp. that's laffer, kudlow, supply side. don't you think that gives him...
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Feb 18, 2012
02/12
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smash some deficits! smash some deficits! smash some deficits! smash some deficits! >> he was mad. rick santelli joins us now live, and watermelon-free. i would never -- you know what? you are the--the shark is not jumpable with you. it could never happen, because you who you are. that's crazy. why is gallagher there? how did this work? >> about four years ago i met g gallagher at a function. we hit it off. i went to a couple shows. i heard he was in town and threw it out there. three years since that crazy week in february, where we came off the tarp, went into the recovery, the stimulus, we had a housing bailout. then you and i had a little fun on february 19th, on the 23rd the president said he was going to cut the deficit in half and his first term, and i thought, how can we, in a light-hearted way, in front of a three-day weekend just accentuate these deficits keep growing? i thought, hey, stick a couple trillion dollar can on top of a water millen and get the king smasher to show us how to do it. >> we just had leskin on. >> wonderful piece today. >> do you buy that? depressi
smash some deficits! smash some deficits! smash some deficits! smash some deficits! >> he was mad. rick santelli joins us now live, and watermelon-free. i would never -- you know what? you are the--the shark is not jumpable with you. it could never happen, because you who you are. that's crazy. why is gallagher there? how did this work? >> about four years ago i met g gallagher at a function. we hit it off. i went to a couple shows. i heard he was in town and threw it out there....
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Feb 15, 2012
02/12
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the so-called buffett only pays for 6.7% of his deficit spending. put aside all the economic damage of these tax increases due to capital and business formation and small businesses. it doesn't even come close to paying for his spending binge that occurs over this period of time. >> are there any legitimate spending cuts in this budget? >> no. he increases spending of $1.5 trillion. it's a net spending increase. you have to net these things out. other than saying -- he really cuts defense big time but the spending increases on domestic spending more than overcompensate these deep cuts to defense. it calls for a net increase in spending. >> i thought there was like $350 billion of additional so-called stimulus spending in this budget. is that true? is that hidden? that's what i think i found. >> that's in there. like i said ash lot of domestic spending increases so that this budget is a net spending increaser. >> so let's go back to basics. you have warned for the last several years, you call yourself a second generation supply sider, i love that. an
the so-called buffett only pays for 6.7% of his deficit spending. put aside all the economic damage of these tax increases due to capital and business formation and small businesses. it doesn't even come close to paying for his spending binge that occurs over this period of time. >> are there any legitimate spending cuts in this budget? >> no. he increases spending of $1.5 trillion. it's a net spending increase. you have to net these things out. other than saying -- he really cuts...
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Oct 15, 2012
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the deficit and debt comes from reducing the trajectory of government spending. tax cuts don't pay for themselves. tax reform requires base broadening and bringing down the deficit requires hard choices on spending, as gov more romney said. >> looking at this new york times, martin bailey was one of the critics of the romney economic plan. he's basically saying the plan looks like a the bush plan, the tax cut plan out of president bush. he said the tax cuts left the country with the wherewithal to battle the recession. how do you look at martin bailey's criticisms and come up with plans to offset that? what is your answer to that? >> governor romney is proposing a very different plan from president bush. he's planning to decelerate the growth of government spending. as we know, spending accelerated in bush years. not a desirable thing at all. romney is proposing tax reform. it cuts marginal rates, that's correct, but also broadens the tax base. this is much more akin to bowles/simple son or 2005 president advisory commission, the kind of things the country used t
the deficit and debt comes from reducing the trajectory of government spending. tax cuts don't pay for themselves. tax reform requires base broadening and bringing down the deficit requires hard choices on spending, as gov more romney said. >> looking at this new york times, martin bailey was one of the critics of the romney economic plan. he's basically saying the plan looks like a the bush plan, the tax cut plan out of president bush. he said the tax cuts left the country with the...
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Sep 6, 2012
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of course under president obama the deficit has increased. national debt going from september of 2009 of just over 11 trillion to september of 2012 to over 16 trillion dollars. obviously that's a point bill clinton didn't make last night. clinton talked about the economic recovery in the 1990s. here's what he did say. >> thankfully by 1996 the economy was roaring. everybody felt it. >> here's what he didn't mention. this is the nasdaq chart. look at the drop around 2000. that was a bit of an economic decline that happened as the dot com bubble burst and caused a recession. clinton not mentioning that. on the deficit he said barack obama endorsed something that was similar to simpson bowles. here's what bill clinton did say. okay. we don't have the sound bite. what clinton said is that barack obama endorsed something similar to the simpson bowles commission. what he didn't say and we should point out is that of course barack obama was presented with that simpson bowles commission report. he didn't take it up, didn't do anything with it and let
of course under president obama the deficit has increased. national debt going from september of 2009 of just over 11 trillion to september of 2012 to over 16 trillion dollars. obviously that's a point bill clinton didn't make last night. clinton talked about the economic recovery in the 1990s. here's what he did say. >> thankfully by 1996 the economy was roaring. everybody felt it. >> here's what he didn't mention. this is the nasdaq chart. look at the drop around 2000. that was a...
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Sep 7, 2012
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he was fighting against two different deficits. one was an enthusiasm deficit, a disappointment that people were feeling. he took that on by saying he still has hope and he put it to voters out there to say, you can choose the future for america that i'm articulating. he talked a at the end right as he closed the speech about it being a longer path, a difficult path. asked the american people to stick with him. he was describing the ways in which he wants to invest in education, in science, in innovation. touched on some of the points you mentioned about taxes. i do think he intends to pursue some form of a grand bargain after this election. he alluded to that. but this is a speech that was president obama communicating with both voters and his base. i think it went over very, very well. >> john, you have his base there. seems biden got louder applause. maybe the audio was turned down on this -- >> i think that was an audio problem. >> either way, either way, john, romney was criticized loudly for being light on substantive policy.
he was fighting against two different deficits. one was an enthusiasm deficit, a disappointment that people were feeling. he took that on by saying he still has hope and he put it to voters out there to say, you can choose the future for america that i'm articulating. he talked a at the end right as he closed the speech about it being a longer path, a difficult path. asked the american people to stick with him. he was describing the ways in which he wants to invest in education, in science, in...
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Feb 16, 2012
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the deficits are bankrupt and the entitlements are bankrupt. why should the highway trust fund be any different? i want to ask you the question i've been asking everybody else. are we headed for a credit downgrade or two because of this bankruptcy? >> larry, i'm afraid we're on the verge of losing this country that so many have worked for and sacrificed for and died for. i think it's incredibly serious that the president's budget proposes spending more money and despite his claims will double our debt and we will still do things like highway bills where we take 18 cents out of every gallon of gasoline people buy and we put it up here and put it in the trust fund to build roads and bridges and that's supposed to fund roads and bridges, but now with the highway bill, we're going to bale out the trust fund because we're spending more this year than we should have. so i just don't think people get the urgency. the debt is already bigger than our economy. we can't borrow much more money and yes, i think we're headed for a credit downgrade, i don't k
the deficits are bankrupt and the entitlements are bankrupt. why should the highway trust fund be any different? i want to ask you the question i've been asking everybody else. are we headed for a credit downgrade or two because of this bankruptcy? >> larry, i'm afraid we're on the verge of losing this country that so many have worked for and sacrificed for and died for. i think it's incredibly serious that the president's budget proposes spending more money and despite his claims will...
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Nov 15, 2012
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and oh, my gosh, are we headed for a fifth straight trillion-dollar deficit? former cbo director douglas holtz ekan to break down the numbers for us. >>> returning after a seven-week recess, with republicans licking their wounds from last week's selection, joining us tonight is a superstar winner from texas, that being senator-elect ted cruz. he, by the way, will become the first hispanic senator from texas, and he's also the new vice chair of the national republican senatorial committee. senator cruz has a nice feel to it. that's the terminology i'm going to use. i want to ask you about president obama's news conference. i don't know if you saw it or not. it kind of sounded to a lot of people like top tax rates, the bush tax rates must go up in order to avoid the fiscal cliff. did you hear any compromise? did you hear any olive branches? >> well, i think the language the president is using remains confrontational. he seems obsessed with raising taxes. and i think if he continues on that line, we are headed to yet more gridlock. i mean, we're at the edge of a
and oh, my gosh, are we headed for a fifth straight trillion-dollar deficit? former cbo director douglas holtz ekan to break down the numbers for us. >>> returning after a seven-week recess, with republicans licking their wounds from last week's selection, joining us tonight is a superstar winner from texas, that being senator-elect ted cruz. he, by the way, will become the first hispanic senator from texas, and he's also the new vice chair of the national republican senatorial...
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Apr 3, 2012
04/12
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back to the mid '80s, a rubup of king dollar, the trade deficit went soaring. trade deficit down. the basic story. you want a big trade deficit, the two will go together. you want king dollar. not good policy, larry. >> i never bought into that trade deficit. >> it's divisional. >> i never bought into the divisional. it dropped for about 15 years under regan and clinton. by the way, the most prosperous. >> come on, larry. the budget deficit went through the roof on reagan. >> as a share of gdp, once he got through the recession. the budget deficit. >> once he put it through the roof, it went down. >> i want to make the case, the king dollar under reagan continued under bill clinton. >> larry, if you have the king dollar, that means it affects borrowing from tabroad to get cheaper imports. at some point you run up your credit card, you get in trouble. we all have the same arithmetic. >> the purchasing power of the dollar goes up. you don't want to emulate countries like zimbabwe or argentina. >> but you are, larry. >> let me make my case. every time we depreciate the dollar, inflat
back to the mid '80s, a rubup of king dollar, the trade deficit went soaring. trade deficit down. the basic story. you want a big trade deficit, the two will go together. you want king dollar. not good policy, larry. >> i never bought into that trade deficit. >> it's divisional. >> i never bought into the divisional. it dropped for about 15 years under regan and clinton. by the way, the most prosperous. >> come on, larry. the budget deficit went through the roof on...
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May 24, 2012
05/12
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the "usa today" analysis showing official deficit in 2010 of $1.3 trillion and actual deficit they say $5.6 trillion. and an official deficit in 2011 of 1.3, actual 5.0 trillion dollars. all of this a campaign-year effort to get the legacy of the president on spending under control from the white house's perspective. it's going to be a bat that will they go into throughout the next couple of months. neal, back to you. >> okay. thanks, eamon javers. that's incredible. i'm sure the press corps loves to be told that they're being sloths. at any rate, here now is former clinton white house aide keith boykin and cnbc contributor jim pethakocis of the american enterprise institute. and cnbc's michelle caruso-cabre caruso-cabrera. keith, i want to start with you. what i stunner -- >> i'm going to interrupt you because you don't have a mike. so we're going to -- yeah, your mike has fallen off. >> i'll answer the question, though. the problem with the numbers is there's two sets of numbers. one is about the deficit being larger than it is. the other is about the spending. the spending part is w
the "usa today" analysis showing official deficit in 2010 of $1.3 trillion and actual deficit they say $5.6 trillion. and an official deficit in 2011 of 1.3, actual 5.0 trillion dollars. all of this a campaign-year effort to get the legacy of the president on spending under control from the white house's perspective. it's going to be a bat that will they go into throughout the next couple of months. neal, back to you. >> okay. thanks, eamon javers. that's incredible. i'm sure...
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Mar 6, 2012
03/12
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his plan is estimated to at about $900 billion to the deficit. we can't increase our deficit. we have to bring down the deficit. bring it down to a balanced budget at the same time we encourage growth. i do both. >> he says on the point of limiting the deductions, which i agree, is a consensus point among tax reformers. but he says in response to you that you're taxing rich people. that your plan that it's 1% versus 99% and that you sound like obama. how do you react to that? >> president obama wants to raise taxes from 35% to 40%. i want to take the top marginal rate to 28% and i also want to maintain progressivety in the code. i'm not looking to punish anybody. but i want to maintain a code that's regressive and to pay for this reduction without going into massive deficits, you have to bring down the reductions and the exemptions. >> so he also believes that we should have a corporate tax for manufacturing. that's part of the reach out to blue collar workers. i just want your thought on that and your thought on connecting with blue collar workers. i guess that's especially t
his plan is estimated to at about $900 billion to the deficit. we can't increase our deficit. we have to bring down the deficit. bring it down to a balanced budget at the same time we encourage growth. i do both. >> he says on the point of limiting the deductions, which i agree, is a consensus point among tax reformers. but he says in response to you that you're taxing rich people. that your plan that it's 1% versus 99% and that you sound like obama. how do you react to that? >>...
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Aug 31, 2012
08/12
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you know, we talk about a $1 trillion annual deficit. the long-term commitments, the if the federal government were a business, we would have a $70 trillion negative balance sheet, just phenomenal number. we've got to do something about that or we're going to go broke, we'll be greece or spain or what have you. >> larry, thank you very much. it's always great to see you and we hope to see you back here in studio sometime soon, too. >> i look forward to it, always great to cheer people up in the morning, too. >> yes. thank you, larry. >> all right, it's not so bad for a keynesian. >>> coming up more from our guest host arthur brooks and 8:30, top american at the international monetary fund, we'll ask him about the european recovery and what he expects to hear from fed chairman bernanke today. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to
you know, we talk about a $1 trillion annual deficit. the long-term commitments, the if the federal government were a business, we would have a $70 trillion negative balance sheet, just phenomenal number. we've got to do something about that or we're going to go broke, we'll be greece or spain or what have you. >> larry, thank you very much. it's always great to see you and we hope to see you back here in studio sometime soon, too. >> i look forward to it, always great to cheer...
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Jun 13, 2012
06/12
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that means the impasse shrinks the deficit. how much we don't know, plus manufacturing similar proving in the u.s., energy shale improving, and housing is bottoming, those are three sectors that pay higher wage to the people -- >> you mentioned -- >> you mentioned some good things, some positives, and i want to end on a positive so we'll end there, but i don't want to look at this economy with rose colored glasses, thanks for joining us, up next, a framing speech, president obama goes to ohio for another speech about the economy. first he plans to talk on mitt romney's plan to fix the economy. and yesterday a big let down today, our stock experts way in about what happens to your money tomorrow. >>> welcome back live, a quick recap of what happened on wall street. the dow down in the triple digits before recovering a bit of the losser loelosses. and the nasdaq finishes down and the s&p down about 9 points, three quarter of one percent. president obama goes to ohio tomorrow to deliver what white house is billing as a major econo
that means the impasse shrinks the deficit. how much we don't know, plus manufacturing similar proving in the u.s., energy shale improving, and housing is bottoming, those are three sectors that pay higher wage to the people -- >> you mentioned -- >> you mentioned some good things, some positives, and i want to end on a positive so we'll end there, but i don't want to look at this economy with rose colored glasses, thanks for joining us, up next, a framing speech, president obama...
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Feb 17, 2012
02/12
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first, it's got another trillion dollar deficit. the same president four years ago said he was going to cut the deficit in half. it continues a real aggressive assault on medicare spending and it's manifested through the new health care law. and then finally it also relies on massive new tax increases. i think the most telling thing is when the secretary of the treasury went to the budget committee yesterday and admitted to the committee he has no long term plan for deficit reduction but says all he knows he doesn't like the house gop plan. now that's not the type of leadership, that's why this budget is getting laughed off the editorial pages. >> i can shoot holes in all of this. this is a ten year plan, and of course when you talk about medicare what the republican plan is to end medicare guaranteed benefits. there's no question about that, to make sure any increase in the future fall on the backs of individual seniors to figure out on their own at least $6,000 per senior already anticipated and going up from there. there's some t
first, it's got another trillion dollar deficit. the same president four years ago said he was going to cut the deficit in half. it continues a real aggressive assault on medicare spending and it's manifested through the new health care law. and then finally it also relies on massive new tax increases. i think the most telling thing is when the secretary of the treasury went to the budget committee yesterday and admitted to the committee he has no long term plan for deficit reduction but says...
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Oct 5, 2012
10/12
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do you want to grow the economy or do you want to cut the deficit? you can't do both if you're not willing to raise some revenue. the problem is that mitt romney got on stage on wednesday and he was a totally different mitt romney from the severely conservative mitt romney who has been running for president on the gop ticket for the past few months. and on the issue of taxes, on the issue of preexisting conditions, on the issue of regulations, he reversed himself on stage. and shame on president obama for not challenging him on that and shame on jim lehrer for not pushing him on that. >> the way that you bring in more revenue, and mitt romney said this beautifully, you put more people to work be you give them jobs. you don't bring more revenue in by putting one american against another. >> you mean like the 47%. >> you don't distribute what you have to someone else. we don't redistribute. >> i think you need to have a conversation with mitt romney. he's the one who wants to divide americans based on the 47%, the takers versus the moochers, the takers
do you want to grow the economy or do you want to cut the deficit? you can't do both if you're not willing to raise some revenue. the problem is that mitt romney got on stage on wednesday and he was a totally different mitt romney from the severely conservative mitt romney who has been running for president on the gop ticket for the past few months. and on the issue of taxes, on the issue of preexisting conditions, on the issue of regulations, he reversed himself on stage. and shame on...
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Dec 31, 2012
12/12
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we still have deficits that have to be dealt with. we still have to think about how we put our economy on a long-term projectry of growth, how we put money into education, infrastructure that help our economy grow. and keep in mind that threat of tax hikes going up is only pun part of the so-called fiscal cliff that everybody has been talking about. >> what we also have facing us starting tomorrow are automatic spending cuts that are scheduled to go into effect. and keep in mind that some of the spending cuts that congress has said will automatically go into effect, have an impact on our defense department, but also impact things like head start. so there are programs scheduled to be cut that we're using an axe instead of a scalpel. may not always be the smartest cuts. so that is a piece of business that still has to be taken care of. i want it make clear that dealing with the automatic spending cuts threatened for next month, they also have to be balanced. remember my principle is, let's do things in a balanced responsible way and re
we still have deficits that have to be dealt with. we still have to think about how we put our economy on a long-term projectry of growth, how we put money into education, infrastructure that help our economy grow. and keep in mind that threat of tax hikes going up is only pun part of the so-called fiscal cliff that everybody has been talking about. >> what we also have facing us starting tomorrow are automatic spending cuts that are scheduled to go into effect. and keep in mind that some...
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Nov 14, 2012
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. >> i'm not going to ask students and seniors and middle class families to pay down the entire deficit. >> we have 47 days for washington to work out a deal. this is a special edition of "power lunch" -- "rise above." as we await president obama's news conference 30 minutes away. >>> that is a live picture of the white house, everyone. the president's news conference begins in 30 minutes from now. we will count you down every step of the way. fiscal cliff will obviously be one of the top topics this hour. brian sullivan, eamon javers, john harwood is working his way into the white house right now for that news conference. they are all gathered with me. brian, we're going to begin with you. >> this is a big day at the white house. this is a big week at the white house regarding the fiscal cliff, guys. and today, 12 top ceo are coming here to the white house to meet with the president, anything from walmart to duke energy to ursula burns of xerox and nine others. they will gather up, they will huddle up and exchange ideas to try to find a fix for the fiscal cliff. the question is, how mu
. >> i'm not going to ask students and seniors and middle class families to pay down the entire deficit. >> we have 47 days for washington to work out a deal. this is a special edition of "power lunch" -- "rise above." as we await president obama's news conference 30 minutes away. >>> that is a live picture of the white house, everyone. the president's news conference begins in 30 minutes from now. we will count you down every step of the way. fiscal...
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Oct 17, 2012
10/12
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when we talk about deficits, if we're adding to our deficit for tax cuts, for folks who don't need them and we're cutting investments in research and science that will create the next app, create the next new innovation that will sell products around the world, we will lose that race. if we're not training engineers to make sure they are equipped here in this country, then companies won't come here. those investments are what's going to help to make sure that we continue to lead this world economy not just next year but ten years from now, 50 years from now, 100 years from now. >> government does not create jobs. government does not create jobs. >> i want to introduce you to barry green because he'll have the last question to you first. >> hi, barry. >> hi, governor. i think this is a tough question. each of you. what do you believe is the biggest misperception that the american people have about you as a man and a candidate using specific examples can you take this opportunity to debunk that misperception and set us straight? >>>> thank you. and that's an opportunity for me, and i appr
when we talk about deficits, if we're adding to our deficit for tax cuts, for folks who don't need them and we're cutting investments in research and science that will create the next app, create the next new innovation that will sell products around the world, we will lose that race. if we're not training engineers to make sure they are equipped here in this country, then companies won't come here. those investments are what's going to help to make sure that we continue to lead this world...
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Dec 1, 2012
12/12
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it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... those surprising little still make you take notice. there are a million reasons why. but your erectile dysfunction that could be a question of blood flow. cialis for daily use helps you be ready anytime the moment's right. you can be
it would make a difference in the deficits. and then we'll talk revenue. >> larry we're not suggesting dropping out, either. >> neil pattell thank you very much. senator kay bailey hutchson appreciate it. >>> next up lipitor and the fallout. the people who take the popular drug need to know. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500...
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Nov 12, 2012
11/12
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that deal says something about the framework and the content of the ten-year deficit reduction plan. so my view is get through the cliff first, got to get a temporary deal to that. otherwise all the risks that marty says are very, very serious. but that has to be linked with the -- the outline, the framework, for a ten-year deal. >> you know, i think -- >> another way of doing it is to have a -- a postponement for, say, six months. and then if they don't reach a major compromise, the kind of ten-year plan that laura talked about, to have a more constructive thing than the kind of cuts that are involved in the cliff. >> it seems so silly and petty to just fight over taxes. but i've got to say, i've been optimistic these last few days hearing from both sides. you have to say that both sides seem ready to deal. >> and i think that's the right way to go, to not push the tax rate up, but to raise revenue by broadening the tax base, by putting an overall limit, an overall cap on the extent to which individuals can benefit from these tax expenditures. >> i actually think that all of those c
that deal says something about the framework and the content of the ten-year deficit reduction plan. so my view is get through the cliff first, got to get a temporary deal to that. otherwise all the risks that marty says are very, very serious. but that has to be linked with the -- the outline, the framework, for a ten-year deal. >> you know, i think -- >> another way of doing it is to have a -- a postponement for, say, six months. and then if they don't reach a major compromise,...
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Nov 7, 2012
11/12
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make certain that you address deficits. also address the debts that we are accumulating that we're going to have an appropriate defense without cutting it unnecessarily and you will make certain that there are revenues raised because you can't do any of the things that we're talking about in the absence of money. the one word definition i have always had is money. the president, he will be elected. that president is elected recognizing that i tried some things and they haven't worked. this is what i'm going to do. i'm willing to sit down and talk. we're not going to surrender the world for your view nor would i expect you to do is same thing. come, let us reason together. >> governor, good to have you on the program. we'll see you soon. >> and we still have jim cramer at the desk. you have been talking about defense stocks. what degree was defense spending a factor? >> people are always hopeful that a defense secretary will be appointed who can say listen what we're going to do is put more money behind big hardware. there i
make certain that you address deficits. also address the debts that we are accumulating that we're going to have an appropriate defense without cutting it unnecessarily and you will make certain that there are revenues raised because you can't do any of the things that we're talking about in the absence of money. the one word definition i have always had is money. the president, he will be elected. that president is elected recognizing that i tried some things and they haven't worked. this is...
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Sep 5, 2012
09/12
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. >> what about the deficit issues of the country? and do you think that the president has put in place policies that adequately address the deficit issue and now facing the fiscal cliff coming up, as well? >> look. the fiscal cliff is something, it's a politically created issue. the answer is, once again, president bush inherited a 2% structural surplus. he turned over a 2% structural deficit in the last year of full employment and then when the economy collapsed the same level of spending ballooned to roughly 10%. so, this is once again something that president obama was handed. it's not going to be easy to solve but it was really president bush who painted us in to a corner. i think the president has some good plans. truth be told i think after the election we're going to need to sit down and have more simpson-bowles type discussions but sensible people of both parties can get this done. everybody agrees but it's a political hot topic in the middle of an election. >> thank you so much for joining us, sir. a pleasure to talk with yo
. >> what about the deficit issues of the country? and do you think that the president has put in place policies that adequately address the deficit issue and now facing the fiscal cliff coming up, as well? >> look. the fiscal cliff is something, it's a politically created issue. the answer is, once again, president bush inherited a 2% structural surplus. he turned over a 2% structural deficit in the last year of full employment and then when the economy collapsed the same level of...
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Jul 23, 2012
07/12
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the big overhang is deficits. our deficits ballooned in the past ten years. we can't continue as a nation with this kind of deficit. i think most reasonable people agree, including all the commissions that you're going to have to have a tax increase and spending cuts. i think that's right, too. these are not ideal spending cuts. doug will say they are not ideal tax increases. if this happens you will restore confidence in the markets because people finally believe the united states of america is doing something about the deficit. >> you're singing off my song sheet there. i have been worried about the debt for a long time. we agree. >> yep. >> but how do you get there? the play book that works is keep taxes low, keep them pro growth. broader base, lower rates the way bowles simpson went and cut spending. not all spending. preserve national security, infrastructure, basic research, education. we are about to gut those. instead you cut transfer programs. >> i think health care. how can you say one of the four core functions isn't health care, preventing old peo
the big overhang is deficits. our deficits ballooned in the past ten years. we can't continue as a nation with this kind of deficit. i think most reasonable people agree, including all the commissions that you're going to have to have a tax increase and spending cuts. i think that's right, too. these are not ideal spending cuts. doug will say they are not ideal tax increases. if this happens you will restore confidence in the markets because people finally believe the united states of america...
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Feb 2, 2012
02/12
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let's have bigger deficits and debt. and then let's tax those most likely to invest in order to finance it. is that basically your model? >> no, it is not. let me lay it out very, very simply for you, larry. number one, we do need to reduce the budget deficit over the long-term. the people at the top in this country are now taking home -- in -- in fact in 2007, 23.5% of total national income. they've never had a marginal income tax so low since the 19 -- late 1920s. why don't we just raise the marginal income tax to something that is at least appropriate given the size of what they're taking home? but secondly do not, do not, do not cut the budget deficit until there is a trigger. and i'm going to give you the trigger. and that is we get unemployment down to 5%. we cannot afford to cut the budget deficit right now in terms of additional cuts in spending. why? because we need the demand. because consumers are holding back. and that is a basic, basic principle of economics. >> i'm going to give senator hutchison the last w
let's have bigger deficits and debt. and then let's tax those most likely to invest in order to finance it. is that basically your model? >> no, it is not. let me lay it out very, very simply for you, larry. number one, we do need to reduce the budget deficit over the long-term. the people at the top in this country are now taking home -- in -- in fact in 2007, 23.5% of total national income. they've never had a marginal income tax so low since the 19 -- late 1920s. why don't we just...
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Aug 16, 2012
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tax reform is hard, just like getting rid of deficits is hard. no matter what anybody says, they resist tax reform, but it can be done. we got the top rate down to 28%. we lowered the rate on capital gains. we made a real step in the right direction. they can do that again now. >> you had an economic boom having gone through that. it was absolutely fantastic. tennis, do you have to divide and conquer, take a separate tax piece and vote on it, a separate spending piece, a separate defense piece? is that how it has to be done? say romney comes in and he's got his man, ryan. i will talk about ryan in a second. in order to get something done in the first, i don't know, 30, 60, 100 days before the markets melt down and the economy melts down, do you have to divide and conquer each piece separately or can you do it in one omnibus bill? >> i i think it has to be the omnibus bill or procedure. you say, this is what we have to spend. right now our spending rate this year is 48%. out of every $2 spent, $1. we have to expand the tax base. everyone can agree
tax reform is hard, just like getting rid of deficits is hard. no matter what anybody says, they resist tax reform, but it can be done. we got the top rate down to 28%. we lowered the rate on capital gains. we made a real step in the right direction. they can do that again now. >> you had an economic boom having gone through that. it was absolutely fantastic. tennis, do you have to divide and conquer, take a separate tax piece and vote on it, a separate spending piece, a separate defense...
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Oct 4, 2012
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cutting the deficit. romney ended with the divisiveness, saying he would on day one be able to be collaborative, bring the two sides together. and, of course, in his closing statements, was very specific in term of where he is going to allocate capital and where he would not. and he mentioned the military, insuring that keeping america safe is one of the priorities. and that means not cutting military spending. >> i want to get thoughts on the debate from our john harwood who is on the ground in denver. what is your first reaction? >> my first reaction is that it was a strong debate for mitt romney. it's always hard for me to judge what millions of americans sitting in their living rooms are going to conclude about the debate. neither candidate had a huge stumble. i thought mitt romney had an especially strong moment when he confronted the president on cutting the deficit and challenged him directly. the bottom line i take from talking to people who work in politics and campaigns is the republicans are an
cutting the deficit. romney ended with the divisiveness, saying he would on day one be able to be collaborative, bring the two sides together. and, of course, in his closing statements, was very specific in term of where he is going to allocate capital and where he would not. and he mentioned the military, insuring that keeping america safe is one of the priorities. and that means not cutting military spending. >> i want to get thoughts on the debate from our john harwood who is on the...
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Sep 2, 2012
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everybody kind of said that deficits matter. but i can't figure out what forces them to the table to compromise the action. it seems to me it takes a crisis, either a financial one or an artificial one, or could it be a sudden outbreak of leadership? unfortunately, i don't see the latter happening any time soon. so the question is whether or not there is some move that we have to get things done, and prove to american people that congress divided between the democrats and republicans can govern after the election. we may get there but we're not there yet. >> does that mean you don't feel that the election will change things when it comes to the deficit? >> i don't think it will change much, i don't think either side will win decisively, president obama, if he wins will, have to find a way to do business with republicans and his chief interlocutor will be paul ryan. and if romney wins, even he gets the senate, democrats will have enough vote to block whatever he wants to do. so the only way this gets done is if the loser decides
everybody kind of said that deficits matter. but i can't figure out what forces them to the table to compromise the action. it seems to me it takes a crisis, either a financial one or an artificial one, or could it be a sudden outbreak of leadership? unfortunately, i don't see the latter happening any time soon. so the question is whether or not there is some move that we have to get things done, and prove to american people that congress divided between the democrats and republicans can govern...
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Nov 27, 2012
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taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of the american people, whether you're talking about deductions or loop hole, however you do it. less money should not -- should be taken from the american people, not more, and christiana roma said raising taxes is contractionary, lowering taxes section pangsry. one more time why do it at all? >> exaccuse me, larry. >> two things. there's a political reason and there's a policy reason. the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternati
taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of...
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the deficit, that the federal government is printding. that's not going to wash down the road. >> we must have a change otherwise we're going to go bankrupt and we will not be the same country. lee cooperman, you are terrific. thank you very much for your time. we appreciate it. >>> coming up on "kudlow," the 12-day countdown to the election. is it all about ohio? folks, i have to tell you, i'm thinking mitt could sweep the entire midwest. and i'm going to try to show you how. >>> later in the show, experts warning the entire east coast that got slammed by sandy. full details coming up. >>> and don't forget, free market capitalism is the best path to prosperity. you heard it from distinguished veteran investor lee cooperman who wants to see some changes and so do i. "the kudlow report" will be right back. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your ow
the deficit, that the federal government is printding. that's not going to wash down the road. >> we must have a change otherwise we're going to go bankrupt and we will not be the same country. lee cooperman, you are terrific. thank you very much for your time. we appreciate it. >>> coming up on "kudlow," the 12-day countdown to the election. is it all about ohio? folks, i have to tell you, i'm thinking mitt could sweep the entire midwest. and i'm going to try to show...
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Jun 22, 2012
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the big threat to american prosperity is the deficit. the deficit is out of control. it needs to be brought in. i don't blame obama for the deficit. big surprise. i blame reagan, bush and bush. the fact is we have to deal with the deficit. if the fiscal cliff is the only way to deal with a deficit, we can do it. we have to do it. we've got to deal with the deficit. that cuts 4.5 trillion in spending. if that's what has to happen, i'm willing to take the risk. the economy is stronger than it was. we can do it. >> something tells me monica disagrees. >> george bush did it, monica. i heard the gov november of vermont say george bush did it. the last three years didn't happen. we are back to 2008. >> incredible how the left can't form a sentence without invoking president bush. we heard president reagan as if this presidency hasn't existed. we have had unprecedented spending, record breaking deficits and debt. anemic economic growth. staggeringly high unemployment. the jobs numbers are getting worse, not better. the problem is not more government workers. the solution is
the big threat to american prosperity is the deficit. the deficit is out of control. it needs to be brought in. i don't blame obama for the deficit. big surprise. i blame reagan, bush and bush. the fact is we have to deal with the deficit. if the fiscal cliff is the only way to deal with a deficit, we can do it. we have to do it. we've got to deal with the deficit. that cuts 4.5 trillion in spending. if that's what has to happen, i'm willing to take the risk. the economy is stronger than it...
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Nov 9, 2012
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that's how you reduce the deficit. with a balanced approach. so our job now is to get a majority in congress to reflect the will of the american people. and i believe we can get that majority. i was encouraged to hear speaker boehner agree that tax revenue has to be part of this ekwigqua, so i look forward to hearing his ideas when i see him next week. let me make one final point that every american needs to hear. right now, if congress fails to come to an agreement on an overall deficit reduction package by the end of the year, everybody's taxes will automatically go up on january 1st. everybody's. including the 98% of americans who make less than $250,000 a year. that makes no sense. it would be bad for the economy, and would hit families that are already struggling to make ends meet. fortunately, we shouldn't need long negotiations or drama to solve that part of the problem. while there may be disagreement in congress over whether or not to raise taxes on folks making over $250,000 a year, nobody -- not republicans, not democrats -- want tax
that's how you reduce the deficit. with a balanced approach. so our job now is to get a majority in congress to reflect the will of the american people. and i believe we can get that majority. i was encouraged to hear speaker boehner agree that tax revenue has to be part of this ekwigqua, so i look forward to hearing his ideas when i see him next week. let me make one final point that every american needs to hear. right now, if congress fails to come to an agreement on an overall deficit...
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Feb 1, 2012
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the truth of the matter is that, yes, we should cut the deficit. we should adjust to make the tax system more fair and it seems cruel not to cost the living and people that are not responsible in the slightest way for the great debt that our country has accumulated, but from the political point of view, i think it's the right thing to do in order to try to ease the pain. it has nothing to do with the deficit except the symbolic and the -- oh, come on, there's no savings here hardly at all. you know it, and i know it. there's no savings. >> hold on a second. sean duffy -- >> we have to talk about this. charlie rangel himself voted for a freezing pay for federal employees in the last congress. the only difference in my bill is that congressmen and women are included in the pay freeze, and i wonder why charlie doesn't want to include members of the house and the senate in the pay freeze and they're calling members of congress in the pay freeze. >> young man, i am with you. i said that is a good, political position to take and that's all it is. it has
the truth of the matter is that, yes, we should cut the deficit. we should adjust to make the tax system more fair and it seems cruel not to cost the living and people that are not responsible in the slightest way for the great debt that our country has accumulated, but from the political point of view, i think it's the right thing to do in order to try to ease the pain. it has nothing to do with the deficit except the symbolic and the -- oh, come on, there's no savings here hardly at all. you...
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Aug 24, 2012
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trillion dollar deficits. four years in a row. you can blame the first one, maybe the first two on the after effects of the recession. not the second two. where has he gone wrong? is this just excessive spending and we are paying for it now? >> yes. excessive spending. if you don't have the revenue coming in and you're not going to put policies in place to bring new revenue in you've got to control spending. they have been doing business as usual. it's the same old, same old. that's why it's time for a change. uh think the republicans and mitt romney will bring a change and barack obama, i think, is determined to do it the same old way. keep spending the same old way. that leads to tax increases and that means less investment and more unemployment and less growth. that's not the future we republicans want. we think we can bring a positive change. >> last one. we were supposed to have entitlement reform. when mr. obama ran he talked about entitlement reform. in the first year he talked about it. instead we have obamacare, new entit
trillion dollar deficits. four years in a row. you can blame the first one, maybe the first two on the after effects of the recession. not the second two. where has he gone wrong? is this just excessive spending and we are paying for it now? >> yes. excessive spending. if you don't have the revenue coming in and you're not going to put policies in place to bring new revenue in you've got to control spending. they have been doing business as usual. it's the same old, same old. that's why...
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Oct 12, 2012
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he will continue to attract the deficit. he'll look at the tax reform which i think is very important, if you get any help from the republicans whatsoever which he got none of for the last two years we'll see real tax reforms and the implication of the tax codes and he'll get his jobs bill passed if the congress will cooperate which they haven't done for two years. >> tom stemberg, your reaction to howard's definition here and your agenda? larry, when you've been in office for four years, you shouldn't be evaluated on your plans. you should be evaluated on your performance, it's at best, d-minus and our jobs situation are running trillion dollar deficits and america's dollar and the stock price, if you will, is at an all-time low and that's not a good record. >> excuse me, our stock price is up tremendously since barack obama took office. wall street's done really well. the reason is corporate profits. >> our currency. >> our economy is recovering and the people know it. >> thank you very much. tom stemberg, ceo of staples.
he will continue to attract the deficit. he'll look at the tax reform which i think is very important, if you get any help from the republicans whatsoever which he got none of for the last two years we'll see real tax reforms and the implication of the tax codes and he'll get his jobs bill passed if the congress will cooperate which they haven't done for two years. >> tom stemberg, your reaction to howard's definition here and your agenda? larry, when you've been in office for four years,...